BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise...
BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? Here's an alarming fact about Sacramento's housing market: About one of every five existing homes on the market is a 'short sale.' That means the home is worth less than the value of the mortgage, and the lender is willing to accept less than full repayment of the loan to avoid foreclosure, says Tracey Saizan, president of the Sacramento Association of Realtors. That, in turn, puts pressure on the remaining 80% of sellers, who have equity in their homes, to cut prices. The median price in the state capital, one of the most overheated metro areas during the real estate boom, fell 4.3% in December compared with December 2005. 'Sellers are having to give concessions and cut prices,' Saizan says. 'It's all about making the house show the best it can and aggressive pricing.' One in five sales is a short sale. That is pretty stagg...